The Arc of Bristol County Expands Facilities, Programming With MassDevelopment Bond
July 3, 2018
FOR IMMEDIATE RELEASE
Kelsey Schiller, MassDevelopment, 617-330-2011 & 617-694-9695 (cell)
Ann Buono, The Arc of Bristol County, 508-226-1445
MassDevelopment has issued a $2,210,000 tax-exempt bond for The Arc of Bristol County Inc., a nonprofit in Attleboro that serves individuals with intellectual and developmental disabilities. The Arc will use bond proceeds to buy and renovate a 12,000-square-foot building at 16 Hillside Avenue in Attleboro, which will expand the organization’s adult services and add space for The Arc’s training and administrative needs. Beacon Securities Corporation, an affiliate of Bristol County Savings Bank, purchased this bond.
"The Arc of Bristol County and its caring practitioners serve Bristol County residents of all abilities," said MassDevelopment President and CEO Lauren Liss. "We are pleased this low-interest financing will help the organization in its mission to promote personal, social, and behavioral independence for individuals in southeastern Massachusetts."
The Arc of Bristol County serves more than 2,000 children and adults with intellectual and developmental disabilities in an effort to foster community partnerships and promote individual advocacy. The Arc works closely with each individual or family to maximize the physical and social well-being of the individual, while collaborating with outside nonprofit, educational, and governmental agencies to facilitate services. The Arc advocates for services that include dignity and respect and recognizes that everyone has strengths, abilities, and inherent value.
"We are grateful for the partnership with MassDevelopment that will allow us to utilize a low-interest bond to continue to expand programming and further our mission of serving individuals and families in need of our services," said The Arc of Bristol County President and CEO Michael Andrade.
MassDevelopment, the state’s finance and development agency, works with businesses, nonprofits, financial institutions, and communities to stimulate economic growth across the Commonwealth. During FY2017, MassDevelopment financed or managed 377 projects generating investment of more than $4.3 billion in the Massachusetts economy. These projects are projected to create about 9,488 jobs and build or rehabilitate 1,863 residential units.